Bank of America Settlement Pauses Epstein Trial

Bank of America (BAC) reached a settlement in principle on March 12, 2026, in a class-action suit by Jeffrey Epstein accusers, pausing the May 11 trial and canceling a planned March 26 deposition of Leon Black.

Settlement Halts Trial and Depositions

On March 16, 2026, a settlement agreement was posted to the court docket. The parties asked U.S. District Judge Jed Rakoff to pause pending deadlines. He ordered them to file papers outlining the deal by March 27 ahead of an April 2 hearing to consider approval.

The lawsuit was filed in October 2025 in federal court in Manhattan. Bank of America moved to dismiss, arguing it provided routine banking services and calling the allegations threadbare. Judge Rakoff rejected that motion in January 2026, allowing the case to proceed. The settlement removes the May 11 trial date and cancels the March 26 deposition of Apollo Global Management co-founder Leon Black. Black remains scheduled to testify before the House Oversight Committee on May 13. Bank of America declined to comment on the settlement.

Allegations and Oversight Pressure

The plaintiffs allege Bank of America "knowingly provided the financial support and the veneer of institutional legitimacy" that enabled Epstein to operate. The complaint claims employees repeatedly failed to file Suspicious Activity Reports (SARs) despite accumulating warning signs. It invokes the Trafficking Victims Protection Act (TVPA) and cites anti–money-laundering duties requiring banks to submit SARs when suspicious patterns emerge.

Senate Finance Committee Ranking Member Ron Wyden said his staff’s investigation informed the plaintiffs’ case. He accused Bank of America employees of repeatedly failing to conduct required due diligence and report suspicious transactions under the Bank Secrecy Act. Wyden noted investigators identified large wire transfers from Black to Epstein, often in $10 million or $20 million installments, and said Black paid Epstein more than $170 million.

Court records identify one plaintiff, Jane Doe, who said she first met Epstein in Russia in 2011 and was abused between 2011 and 2019. She opened a Bank of America account in May 2013 at Epstein’s accountant’s direction and received roughly $14,000 soon after. Accounts set up for her were used by Epstein and associates through 2019, with payments routed through Bank of America accounts.

Other filings indicate Black transferred more than $150 million to Epstein. Black has said the payments were for financial and estate-planning services, while plaintiffs say they helped facilitate trafficking. Attorneys for the survivors previously secured a $290 million settlement from JPMorgan Chase, which did not admit wrongdoing, and a $75 million agreement with Deutsche Bank, which acknowledged a critical mistake in taking Epstein as a client.

If Judge Rakoff approves the settlement, the dispute will shift from a contested jury trial to judicial review of the settlement terms. Ongoing congressional scrutiny and comparisons to earlier bank settlements will likely shape assessments of legal and reputational exposure.